MSME start-ups to get 60% land premium subsidy under Start-up Chhattisgarh Policy

Raipur, Sep 15 (KNN) Chhattisgarh Chief Minister Raman Singh has announced that the MSME start-ups shall be eligible for 60% subsidy on land premium in government industrial parks and all start-ups shall be given facility to do self-certification for various state laws under the ‘Start-up Chhattisgarh Policy’.

The state government has come up with 'Start-up Chhattisgarh' initiative here to foster entrepreneurship and promote innovation.

Chief Minister Raman Singh said that youths have no dearth of ideas. Lot of creative ideas take shape in their mind. They should convert them into business ideas according to the need of market to provide facilities to people at lower rates in a convenient manner.

"They need to be fearless to develop their ideas into commercial products," he said.

CM said that as part of the initiative, 14 special camps will be set up in Chhattisgarh, which would be used as a platform to present ideas and the best out of them would be selected for incubation, he said.

"At least 3000 ideas would be collected through these camps and in the first phase, 36 start-up units selected of these ideas will be developed in next four months," he said.

"First36 start-ups established in the state would be reimbursed (with) all state government taxes paid by them for first three years. Apart from this, assistance will be given in preparing the project report, quality certifications, technical patent costs," he said.

The CM said subsidy of 75 per cent would be given on term loan up to Rs 70 lakh for six years.

He also announced the fixed capital subsidy of 35-40%up to Rs 3.5 crore, electricity duty exemption for 10 years and stamp duty exemption for land purchase or lease. (KNN Bureau)